United Oil & Gas PLC (LON:UOG)

United Oil & Gas PLC (LON:UOG)


Share Price
3.85 p
Change
-0.05 (-1.28 %)
Market Cap
£13.31 m
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United Oil & Gas PLC RNS Release

Appointment of Chief Financial Officer


RNS Number : 6780A
United Oil & Gas PLC
31 May 2019
 

United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas

31 May 2019

United Oil & Gas PLC ("United" or the "Company") 

 

Appointment of Chief Financial Officer

 

United, the AIM-traded oil and gas exploration and development company, is delighted to announce the appointment of David Quirke, ACMA, as Chief Financial Officer and Company Secretary to the Board, effective from June 24th, 2019. 

David has 17 years of treasury and corporate finance experience in the upstream oil and gas sector. He established and led the Tullow Oil Group Treasury function for a fifteen-year period from 2003 to 2017, supporting a period of transformational growth. He has extensive experience of the key exploration & production ('E&P') debt and equity instruments such as Reserves Based Lending Facilities, Acquisition Facilities, Corporate Bonds, Trade Finance Facilities and Equity Transactions.

More recently, David acted as a Treasury and Financial Consultant advising Assala Energy on their corporate finance and treasury following the acquisition of Shell's onshore assets in Gabon. He has also supported a number of small E & P companies in managing their capital structure and developing financial strategies. 

David is a qualified chartered management accountant.  He holds a BA in Law and Accounting from the University of Limerick. 

 

United Oil & Gas CEO, Brian Larkin said:

"We are delighted to persuade someone of David's calibre and experience to join us for the next phase of our development.  We are building a team that will enable United to fulfil the undoubted potential of our asset base and to further grow this Company.     David's experience in an international FTSE 100 company and extensive banking relationships will strengthen our ability to develop new funding avenues to fuel our growth. His understanding of the Capital Markets and Corporate Finance, particularly in the E&P sector, will expand our financial options for both acquisition and operations."

 

AIM Disclosures

David Thomas Patrick Quirke, ACMA, aged 46, has held the following directorships and/or partnerships in the past 5 years:

Current:

Past:

Inspired Marketing Services Limited

Tullow Oil Limited


Tullow Oil Overseas Finance Limited

 

David does not currently own any shares or options in the Company.

There is no further information on David Quirke required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

 

In accordance with the commitment made at the time of the AIM Admission to add further financial expertise to the Board of United, the Board has considered it appropriate at this stage to appoint a full-time CFO who will also assume the Group Company Secretarial responsibility.

 

For more information please visit the Company's website at www.uogplc.com or contact: 

 

United Oil & Gas Plc (Company)

 

Brian Larkin

[email protected]

 

 

Optiva Securities Limited (Broker)

 

Christian Dennis

+44 (0) 20 3137 1902

 

 

Beaumont Cornish Limited (Nominated Adviser)

 

Roland Cornish and Felicity Geidt

 

+44 (0) 20 7628 3396

 

 

 

Murray (PR Advisor)

+353 (0) 87 6909735

Joe Heron

 

[email protected]

 


St Brides Partners (Financial PR/IR)

 

Frank Buhagiar and Juliet Earl

+44 (0) 207 236 1177

 


 

Notes to Editors

 

United Oil & Gas plc (UOG) is an AIM-traded company. United was established to explore, appraise and develop low risk assets in Europe and to develop higher risk, higher impact exploration projects in the Caribbean, Latin America and Africa.

 

The following table outlines the Company's licence interests:

 

Country

Licence

Operator

United Interest

Italy

Podere Gallina Licence

Po Valley Energy Limited

20%

UK

Waddock Cross Field

Egdon Resources UK Limited

26.25%

UK

PL090 Exploration

Egdon Resources UK Limited

18.95%

UK

P1918

Corallian Energy Limited

10%

 UK

PEDL 330

Corallian Energy Limited

10%

UK

PEDL 345

Corallian Energy Limited

10%

UK

P2366

United Oil & Gas Plc

95%

Jamaica

Walton-Morant

Tullow Jamaica Ltd

20%

 

ENDS

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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